Industry observers said the board meetings have been strategically planned to seek extension of the RBI’s deadline for freezing resolution plans for stressed power assets. Otherwise these plants will need to be referred to bankruptcy court.

JP Associates has jumped 54.79% in the last one month to close at Rs 16.45 on Tuesday. JP Power Ventures surged 48.91% to Rs 6.15, GMR gained 23.70% to touch Rs 15.90 and GVK rose 10.17% to close at Rs 6.50.

As part of the deal, JSW Energy will replace Jaiprakash Associates (JAL) from the 49:51 joint venture with Madhya Pradesh State Mining Corporation Limited for the coal requirements of the Nigrie power plants.